Explicit costs are
A) not part of opportunity cost
B) the only cost considered in opportunity cost
C) exactly the same as implicit costs
D) actual monetary payments for resources purchased
E) the opportunity costs of using resources owned by the firm
Correct Answer:
Verified
Q1: The opportunity cost of a resource
A)includes both
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Q11: Unlike implicit costs, explicit costs
A)reflect opportunity costs
B)include
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